Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2021. The manufacturing cost of the computers was $18 million. This noncancelable lease had the following terms: Lease payments: $3,144,993 semiannually; first payment at January 1, 2021; remaining payments at June 30 and December 31 each year through June 30, 2025. Lease term: 5 years (10 semiannual payments). No residual value; no purchase option. Economic life of equipment: 5 years. Implicit interest rate and lessee's incremental borrowing rate: 9% semiannually. Fair value of the computers at January 1, 2021: $22 million. What is the outstanding balance of the lease liability in Lone Star's June 30, 2021, balance sheet

Lease liability on June 30, 2021 = $1,808,042

Explanation:

Lease amount at 1/1/21 = $18,000,000

Installment = $3,144,993 (A)

Remaining principal at 30/6/2021 = $18,000,000 - $3,144,993

Remaining principal at 30/6/2021 = $14,855,007

Interest at 9% = $14,855,007 × 9% = $1,336,951 (B)

Lease liability at 30/6/21 = Principal - Interest

Lease liability at 30/6/21 = $3,144,993 - 1,336,951

Lease liability at 30/6/21 = $1,808,042

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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the answer is true

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